Spain's Grenergy registers EUR-100m green issuance programme

Source: Grenergy Renovables

March 23 (Renewables Now) - Spanish renewables company Grenergy Renovables SL (BME:GRE) has registered a green bond issuance programme for up to EUR 100 million (USD 110.1m) on Spain’s alternative fixed-income market MARF.

The company said on Tuesday that the programme will enable it to issue bonds with unit face amounts of EUR 100,000, with fixed or variable coupons, flexible structures and maturities of up to ten years. The characteristics of the issues will be determined as each bond tranche gets launched over the next 12 months.

The issuance programme, which is aligned with the Green Bond Principles 2022 of the International Capital Markets Association (ICMA), will enable Grenergy to diversify its sources of financing and broaden its options to undertake the strategic and growth plan for the coming years, the renewables company said.

Spanish credit rating firm Axesor recently upgraded Grenergy’s credit rating to BBB- from BB+ with a stable outlook, according to the issuer. Grenergy highlights that it has a pipeline of over 10 GW of renewable energy projects in various stages of development across ten countries in Europe, North and Latin America, which contributed to its rating upgrade.

(EUR 1.0 = USD 1.101)

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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